INDUCT - BUSINESS UPDATE GRANTWAY

26 Apr 2023 08:25 CEST

This business update is dedicated to Grantway and Tilskuddsportalen. An update
on all business areas will be provided in the Q1 report.

Grantway (grantway.com) is growing rapidly and has already become one of the
biggest global portals for funding opportunities on the market.

On the 9th of February, we gave users the ability to search for funding
opportunities without having to register for an Induct user account. On the same
date, we started an ad marketing campaign targeting English speaking people
across 10 countries, and within 6 days Grantway had more than 60,000 visits. We
have learned how to attract users to Grantway. However, there is a job to be
done to ensure that our ad campaigns attract the most valuable users as cost
efficiently as possible. Our current daily visits are at an average of +/- 10k,
and we have a steady growth in the number of visitors who return to Grantway to
search for funding opportunities. We’ve had days with 35-40k visits and know how
to achieve our target of 1M visits per month in Q3 2023. In addition, we are
tuning the rules for ads in our platform to ensure the best possible combination
of eCPM and fillrate for each country and device (i.e. mobile, tablet and
computer). Returning visitors is an important indicator that the portal meets
the high expectations of users and find our offering compelling.

We have recently integrated ChatGPT into our product for search engine
optimization. We will continue to explore ways of using AI technology for
efficiency gains for funding providers to describe their opportunities and for
funding applicants to “write” their applications in a much more efficient way.

Grantway growth strategy and activities
Our growth strategy for Grantway is to be the leading portal for those looking
for funding, and those who provide it. We want to increase our revenue stream
from advertisement (user volume + time spent on the portal = increased ad
impressions). In addition, we would like to add a subscription-based revenue
stream by integrating Grant Management modules for funding providers (@WORK) and
self-publishing of funding opportunities in Grantway. This functionality is
available in our Innovation Management module offering used by the Norwegian
hospitals, where the share innovations and ideas in a network structure similar
to Grantway. Both Induct and Bidra have Grant Management modules and we have
knowledge and insight into both the customer need and functionality required to
develop such modules.

These are the steps and activities underway to support our Grantway growth
strategy:

1. Increase number of visitors and convert visitors into registered Induct
users. By increasing the number of visitors who sign up for an Induct account to
benefit from additional functionality (saving searches and favourites), and
other Induct products (Meet@Induct), we increase the number of impressions
viewed per user per visit. We expect to reach our 1M visitors per month target
in Q3 2023. As the visitor base grows, we must ensure consistent and good
usability, high speed and an overall good user experience.

2. Funding provider self-registration and publishingThere are hundreds of
thousands of funding providers in the world, large and small. By giving funding
providers the ability to publish their funding opportunities directly on
Grantway, we give them the opportunity to reach a larger audience whilst
increasing our ad impressions. As previously mentioned, we are investigating how
AI can be integrated into the service and help funding providers create high
quality texts faster and more efficiently. Our testing of the offering in the UK
market in 2022 gave us great insight into this market need and how i.e. smaller
funding providers will benefit from being able to more efficiently make their
grants and scholarships available for a broader audience than today.

3. Modules for managing the full grant lifecycle. We have completed a global
market analysis and are now in the process of defining subscription-based grant
management modules as a self-service. The modules give funding providers the
ability to manage the full lifecycle of their funding opportunities – from
publishing to application receival and reporting processes for successful
applicants. To support those applying for funding, we are working on ways to
integrate AI technology to i.e. help applicants create applications that are
more likely to be successful.

Tilskuddsportalen
Tilskuddsportalen continues to steadily grow its subscription base. The OSINT
subscription base grew in Q1 and passed the 10 MNOK milestone.

The synergy potential between Tilskuddsportalen (funding finder) and Bidra
(donations and crowd funding) is an opportunity we are actively pursuing.

For further information, please contact: Alf Martin Johansen, Chief Executive
Officer +47 90 17 94 35, amj@induct.net

About Induct
Induct offers a digital platform for work and collaboration, for individuals
@HOME and organizations @WORK. The platform makes it easy to manage and
collaborate on projects, create discussion groups, manage and collaborate on
contracts, and support organizational growth and development through dedicated
governance rooms.

If you use @HOME or @WORK - Induct aims to make your digital every-day life a
bit easier by giving you access to video meetings, task management, file manager
and unlimited document storage, news feeds and chat areas. Induct.net is a
secure, collaborative and access-controlled platform that is free to use for
individuals and organizations.

There is no charge per user or hidden costs. Want to learn more and get started?
Visit us at induct.net.

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